Boring Company is right up with Tesla and SpaceX on the success trajectory by lots of measures. This is a company that just started from nothing a few years ago, and it’s already building a massive transit project, and is in final bidding in several other major projects.
They’re already building their own tunnel boring equipment.
The company raised $675 million at a $5.65 billion valuation, putting it ahead of several S&P 500 stocks in market cap, closest to Alaska Airlines.
To say this is unusual is an understatement.
At this point in SpaceX history, the company had yet to launch Falcon 1.
I think a whole lot of people are going to be mightily shocked at how successful this company will turn out. In ten years, when it’s clear how successful it is, everyone will pretend the idea was stunningly obvious and was only successful through public financing, or something like that.
Boring Company is all hype, it's current trajectory is failure.
> it’s already building a massive transit project
It's only massive in terms of wasted taxpayer funds. The Vegas tunnel is a boondogle, and per Elon's signature style, completely unlike anything that he promised, their next tunnel will be the same.
> In ten years, when it’s clear how successful it is, everyone will pretend the idea was stunningly obvious and was only successful through public financing, or something like that.
I won't. If boring company has built any noteworthy tunnels within the next ten years, feel free to come back and have yourself a dropbox moment with my comment.
> It's only massive in terms of wasted taxpayer funds
I'm confused, because you called-out the Vegas tunnel, but are you claiming a 30-mile, 55-station tunnel is not a massive project? Or are you referring to the already-built 1.7 mile LVCC Loop?
Beyond that, there are no taxpayer dollars used in the project. It's entirely privately financed. In fact, the system pays a concession fee to Las Vegas.
> If boring company has built any noteworthy tunnels within the next ten years
Well, TBC is already constructing the 55-station Las Vegas Loop as we speak. It's scheduled to open in 2 years, at least partially by Super Bowl LVIII in Vegas in February 2024. The entire system will not be done, but enough of it will be to be noteworthy.
> feel free to come back and have yourself a dropbox moment with my comment.
I will try to remember to do that! Don't worry, you won't be the only one who got this wrong.
I would love to agree but it's simply not correct. They are buying existing tunneling machines and there is nothing yet to suggest a step change.
The radical proposals in terms of stripping out safety equipment for operational tunnels may prod some development, but ultimately any gains here are not going to be captive and will just result in revised client expectations (outside Boring funding & delivering projects worth $10bn+ individually themselves, with no public involvement).
> They are buying existing tunneling machines and there is nothing yet to suggest a step change.
That is incorrect. That is how they started, but they are now using Prufrock 2, which is both designed and built by The Boring Company, though I agree there has yet to be much of a step change in technology. Prufrock 2 is not the fastest tunnel boring machine in the world, and its porpoising feature has had some setbacks, needing to be dug out.
But all of this kind of misses the point. It ultimately doesn't matter if the tunnel boring machine is extraordinarily better. The Boring Company is applying the exact same philosophies that has made Tesla and SpaceX successful: extreme vertical integration and rapid iteration.
What matters is that TBC controls the boring machine. They control the design, they control the manufacturing process, and they have a willingness to experiment and iterate. The company is 5 years old and is now on its fourth tunnel boring machine.
And given the design of TBC transportation systems, there's no reason you can't have a dozen tunnel boring machines running simultaneously.
There was nothing remarkable about Falcon 9 when it launched. It was old tech, with a few good ideas, and one killer feature: extraordinary cost savings.
They’re already building their own tunnel boring equipment.
The company raised $675 million at a $5.65 billion valuation, putting it ahead of several S&P 500 stocks in market cap, closest to Alaska Airlines.
To say this is unusual is an understatement.
At this point in SpaceX history, the company had yet to launch Falcon 1.
I think a whole lot of people are going to be mightily shocked at how successful this company will turn out. In ten years, when it’s clear how successful it is, everyone will pretend the idea was stunningly obvious and was only successful through public financing, or something like that.